Papers by Somneuk Davading
Although decelerating from 6.9 percent the previous year, economic growth in 2018 is estimated to... more Although decelerating from 6.9 percent the previous year, economic growth in 2018 is estimated to remain robust at 6.5 percent. The slowdown in growth in 2018 has been partly due to a combination of the following domestic factors : (i) the severe floods that hit the country during July – September 2018, which adversely affected agricultural production and damaged infrastructure in several provinces; (ii) the weak performance of the mining sector despite higher commodity prices; and (iii) continued fiscal consolidation, which contributed to slower credit growth. These downside factors offset the gains from the industry sector driven by the expansion of construction activities and electricity exports, coupled with robust growth in wholesale and retail trade. There is evidence of increasing job creation between 2010 and 2017. According to the 2017 Labor Force Survey, wage jobs are estimated to have gradually increased since 2010. This has resulted in 28 percent of households situated m...
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The Lao PDR Economic Monitor provides updates on macroeconomic developments and sectoral issues i... more The Lao PDR Economic Monitor provides updates on macroeconomic developments and sectoral issues in the country. It is produced bi-annually and distributed widely to the government agencies, development partners, the private sector, think tanks, civil society organizations, and academia. Addressing macroeconomic risks remains a pressing priority while improving environment for long-term growth is a continuous agenda. To create a more stable macroeconomic environment for reforms, maintaining fiscal discipline and bolder steps towards fiscal consolidation is of utmost importance at this stage. Growth is projected to further moderate to 6.7 percent in 2017, below historical averages, but towards a more sustainable level. Continued expansion in power generation, manufacturing, and agriculture are weighed down by slight deceleration in investment, moderating credit growth, stronger controls over government spending and lower-than-expected tourism performance. Domestic demand also shows si...
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Papers by Somneuk Davading